Read the sentence.

Hillside issues $2,600,000 of 5%, 15-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31

Amanda [17]

Answer:

1.- thwe cash payment are the same for each period as the coupon bond rate is fixed:

2,600,000 face value x 5% coupon rate / 2 payment per year = 65,000

On the last payment, we are going to calculate 65,000 + face value

2,600,000 + 65,000 = 2,665,000

2.- amortization per period 19,513

3.- interest expense per period 45,487

4.- 45,487 interest expense per period x 30 payment dates = 1,364,610

cash 3,182,390 debit

bonds payable 2,600,000 credit

premium on BP 585,390 credit

-- to record issuance --

interest expense 45,487 debit

premium on BP 19,513 debit

cash 65,000 credit

-- entry for each payment date--

Explanation:

proceeds: 3,182,390

face value: 2,600,000

premium: 585,390

amortization per period:

585,390 / 30 payment = 19,513

This will be the amortization on the premium on bonds payable for each payment

3.- as the amortization is fixed under straight-line method the interest expense is also fixed:

65,000 cash proceeds - 19,513 amortization = 45,487 interest expense

6 0

3 years ago

Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $420,000; Allowance for Doub

Fiesta28 [93]

Answer and Explanation:

The computation is shown below:

a. Amount of adjusting entry for uncollectible accounts

= Estimated balance of Allowance for Doubtful Accounts + debit balance

= $16,400 + $4,000

= $20,400

b. Adjusted balances

For account receivable

= account receivable

= $420,000

For allowance for doubtful debts

= Estimated amount

= $16,400

For bad debts

= AMount of adjusting entry

= $20,400

c. Net realizable value

= Account receivable balance - estimated balance of Allowance for Doubtful Accounts

= $420,000 - $16,400

= $403,600

8 0

3 years ago

A student has 4 mangos, 2 papayas, and 3 kiwi fruits. if the student eats one piece of fruit each day, and only the type of frui

Tom [10]

There are 210 ways that he can consume fruits. This can determined using the concept of factorial in mathematics.

Factorial, in mathematics, the product of all positive int or numbers less than or equal to a given positive int or number and denoted by that integer and an interjection point. therefore, factorial seven is written seven!, meaning one × 2 × 3 × 4 × 5 × six × seven.

Factorial zero is defined as equal to one.

Here, we have given the student has three mangoes, two papayas and two kiwi fruits.

so in total he has (3 plus 2 plus 2) =7 fruits.

Let all the fruits be eaten. If he eats one fruit each day then it will take seven days to complete this process.

So according to one popular permutation type where , n=7, n1(mangoes)=3, n2(papayas)=2, n3(kiwi)=2.

Using factorial, number of ways =7!/(3!2!2!) =210

Learn more about factorial here:

brainly.com/question/25997932

#SPJ4

4 0

1 year ago

Lizzie Corporation has provided the following information about one of its laptop computers: Date Transaction Number of Units Co

hoa [83]

Answer:

the ending inventory using the FIFO cost flow assumption is $282,900

Explanation:

The computation of the ending inventory using the FIFO cost flow assumption is shown below;

But before that first we have to determine the ending inventory units i.e.

= 280 + 380 + 480 + 290 - 1,200

= 230 units

So, the ending inventory is

= 230 units × $1,230

= $282,900

Hence, the ending inventory using the FIFO cost flow assumption is $282,900

8 0

3 years ago

You have $3000 per month to cover your expenses. You estimate your monthly costs to be rent of $1200, car expenses of $700, util

kobusy [5.1K]

Answer:

with the student loans you will be over 800

Explanation:

so if you subtract all of that from 3000 you will be in negatives by -800 each month

4 0

2 years ago